EU industrial base has started to crumble

The cost of energy is forcing some industries out of production

Petrochemical giant forced to close its plant in UK

The same which threatens to happen in Germany is happening to Cameron in UK with the petrochemical company INEOS.Already, an aluminum industry plant is gone.

Says Jim Ratcliffe, founder and chairman of Ineos: “It’s fine being very, very green, but it’s not if you’re interested in manufacturing,” he said. “The UK is already disadvantaged on the wholesale cost of energy, and then it puts taxes on it. Anybody who’s an energy user is just going to disappear.”

“Just a month ago, Ineos was seriously considering a rescue plan for the plant. It was in talks with the UK government on an infrastructure loan guarantee to convert the facility to run on cheap shale gas imported from the US. Plans were afoot for a £150m import terminal to receive shipments of US ethane. The closure leaves that proposal in tatters.”